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Posted: September 8, 2018 12:34 AM EST| 0 Replies
JUST AS WE EXPECTED
Legend Numismatics wishes a Happy New Year to all our Jewish friends
First, this is being written on Friday afternoon at the show. Yes, the principals of Legend are in attendance. This is only due to the fact they have personal biz Sunday (going to see FOX NFL Live in studio-it was amazing). Being at Long Beach on this particular Friday was very painful. We can imagine Saturday-it will be heart breaking for us.
For a firm like Legend, we do not carry average or cheaper coins. So our table was empty save for people lot viewing the current Regency and Monthly Sales. You could have bowled down the isles Friday afternoon. Only the back of the room in the budget area was active.
This show was poor for almost everyone simply because of BAD TIMING. It was only 2 weeks after ANA. Several dealers told us they sold ZERO. We had a dismal show-and only did one small retail sale. It was painful as we day dreamed about how the show was 25 years ago and how the principals of Legend never left until Sunday AM as the shows were that busy. Back then selling $500,000.00 to collectors at the show was average!
Overall attendance was weak, Dealer attendance was poor-even the big local names did not come. This was another show the promoters should have not had or moved to a different date.
The results from this show were to be expected. We do not think this show will have any effect on the overall market.
Our stealth seller as usual did really well Tue and Wed AM until the show opened. Then it was a grind to the point he said the only action was from the smaller dealers. We would bet, he did more in biz then most dealers who have tables. He was carrying many coins dealers needed to dump and raise money with (auctions bills were due this week) so he had active material to sell.
SO MUCH TO BUY!
NOT! We spent maybe $250,000.00. It was a really hard to buy. You could buy all the widgets in the world at the show, but the floor was completely dry of nice better coins. CAC Gold coins were not to be found for sure (and there were several collectors who inquired about gold ). The few coins to be found were the ones owned by “shot takers”. You can’t break these exceedingly greedy people so the one or two cool coins they had are simply ridiculously priced. We did buy one neat six figure coin (about 60% of our total buying) for 35% OVER the published values. It was a coin where none had appeared since 2011 (even longer in other grades) and the thing is super PQ. We know in this market, if we did not buy it, someone else would pretty quickly. And we do not have any one for it.
It seemed like every case had nothing but dreck or widgets. The few better coins mostly were hidden behind the tables. This is why you need to work with a good dealer-you have better access to better coins including the hidden stuff. You can NOT build a great collection anymore by just looking in cases at a show or hoping there is a good auction. We keep telling you about that big black hole that is just sucking up coins.
Save for our Regency Sale at the end of the month,, the market will be bone dry of coins until at least the next Baltimore Show. We’re not so sure great coins will really appear until FUN. Every year this kills us. NOTE: we do NOT BID in our auctions against our customers. We do bid at the very end ONLY on coins we feel are way too cheap. If we played, we would be our own biggest buyer-especially this auction!
We really are offering ROUND III from the ANA Show. We have some really cool and really high end coins. Highlights include:
1C 1858 SM LET PCGS MS66+ CAC
$1 1801 PCGS AU58 CAC FLANNAGAN
$10 1803 SM STARS PCGS AU58 CAC
Those are just 3 coins. We did our best to offer coins to fit all tastes and budgets.
Do not forget to check our regular inventory listing as well. ALL of our coins are handpicked for HIGH END quality and eye appeal. No one builds collections like we do! NO ONE.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
We currently have TWO sales up and running.
First is the Premier Sessions sale which ends Sunday the 16th starting 9:00 Est. This sale has 164 exceptional handpicked lots.
Included are a small group of totally FRESH killer original toned Commems. Two coins even have GOLD CAC stickers!
Second sale is our September Regency Sale. That sale closes with a monster live auction starting September 26th (a 2 night affair). This is a our biggest and best ever! So far, the amount of people who have viewed the lots is off the chart! There will be strong to record bidding for this coin. It will be the first decent size group of nice coins to appear since ANA. So be ready!
We are seeking consignments for our November Regency Sale. What would you like to sell? Julie, Greg, and Jessica are here and are ready to offer create a customized package for you. We have hybrid deals where sometimes auction is not the best route. In the end, our goal is to get you the absolute top dollar for your coins. Contact: Julie Abrams: firstname.lastname@example.org, Greg Cohen: email@example.com, Jessica Berkman, firstname.lastname@example.org.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US; email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
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